Brazil moves into recession

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Rio de Janeiro - Brazil is in technical recession after the country's national statistical institute unveiled a 0.6 percent drop in second quarter GDP on Friday, while revising the Q1 figure down from 0.2 to -0.2 percent.

The figures, coming barely a month before the country goes to the polls for presidential and elections, will worsen already low industrial and consumer confidence in Latin America's biggest economy. - Sapa-AFP



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